3Chopt Investment Partners LLC Makes New $333,000 Investment in Corteva, Inc. (NYSE:CTVA)

3Chopt Investment Partners LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,289 shares of the company's stock, valued at approximately $333,000.

Other hedge funds have also added to or reduced their stakes in the company. U S Global Investors Inc. bought a new position in shares of Corteva during the 1st quarter worth $378,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Corteva by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,152 shares of the company's stock worth $4,345,000 after acquiring an additional 11,727 shares in the last quarter. Oakworth Capital Inc. increased its position in Corteva by 27.3% during the 1st quarter. Oakworth Capital Inc. now owns 1,500 shares of the company's stock valued at $94,000 after purchasing an additional 322 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Corteva by 4.4% in the 1st quarter. Artemis Investment Management LLP now owns 1,093,570 shares of the company's stock valued at $68,818,000 after purchasing an additional 46,467 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in shares of Corteva by 5.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 4,111 shares of the company's stock worth $259,000 after purchasing an additional 217 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a report on Friday, June 6th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. KeyCorp upped their target price on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Oppenheimer reissued an "outperform" rating and set a $75.00 price target (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Finally, UBS Group upped their price objective on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.08.

Corteva Price Performance

Shares of NYSE:CTVA traded up $0.10 during trading on Monday, reaching $74.49. 3,201,554 shares of the company's stock traded hands, compared to its average volume of 3,389,382. The firm has a market cap of $50.81 billion, a PE ratio of 45.42, a P/E/G ratio of 1.90 and a beta of 0.75. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $75.05. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $68.57 and a 200-day simple moving average of $63.42.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm's revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.